Australia will hold a global auction of $16 million worth of bitcoins seized as the proceeds of crime next month.
The 24,518 units of the digital currency will be sold by advisers Ernst & Young online for an undisclosed seller, between June 20 and 21.
E&Y transaction partner Adam Nikitins expects interest in the auction from digital asset investment managers, digital currency exchanges, investment banks and hedge funds.
"Interest in this technology continues to grow," Mr Nikitins said.
"The number of bitcoin transactions since 2012 has quadrupled and parties are seeing more opportunities and uses for the technology."
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E&Y said the auction would be only the second global auction of confiscated bitcoins.
US Marshals last year sold the $15 million bitcoin fortune of Ross Ulbricht who was sentenced to life in prison for founding the Silk Road website, an online black market which conducted transactions using bitcoins.
One bitcoin is currently worth about $736.75, according to currency conversion website XE.com, with E&Y saying the confiscated stash is worth about $16 million.
However, like commodities the price of a bitcoin can fluctuate amid changes in supply and demand.
Units of the digital currency are stored in a user's digital wallet, which is similar to a bank account.
Digital wallets can either be a software program on a person's computer or an online account, but like bank accounts they're protected by passwords.
In the case of next month's auction, Australian law enforcement officials would have either confiscated the bitcoins with the cooperation of the owner or they would need to have access to the owner's passwords.
E&Y declined to disclose the identity of the seller for next month's auction but said accepted bidders would be provided with the details.
